China's unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports.
The tariff for Chinese-built electric vehicles will increase from 25% to 100%, citing 'extensive subsidies and non-market practices leading to substantial risks of overcapacity' as the rationale.
Semiconductors, batteries, battery packs, steel, aluminum products, minerals, ores, and radioactive substances are among the other items facing increased import costs. Some tariffs will be phased in gradually by 2025.
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